National Grid Transco, PLC $NGG Position Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 9.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 145,465 shares of the utilities provider’s stock after purchasing an additional 12,618 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in National Grid Transco were worth $10,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of National Grid Transco by 21.5% during the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock valued at $342,017,000 after purchasing an additional 814,248 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of National Grid Transco by 2.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock worth $238,112,000 after purchasing an additional 66,456 shares during the last quarter. JPMorgan Chase & Co. boosted its position in National Grid Transco by 23.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock valued at $151,916,000 after purchasing an additional 382,392 shares during the period. Envestnet Asset Management Inc. grew its stake in National Grid Transco by 3.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,835,914 shares of the utilities provider’s stock worth $133,416,000 after buying an additional 61,168 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in National Grid Transco by 20.3% in the second quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock worth $124,395,000 after buying an additional 282,085 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analysts Set New Price Targets

NGG has been the subject of several recent research reports. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. National Bankshares set a $85.50 target price on shares of National Grid Transco in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Thursday. Finally, Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Stock Up 0.4%

Shares of NGG opened at $88.41 on Tuesday. The company has a 50-day moving average of $79.50 and a two-hundred day moving average of $75.42. National Grid Transco, PLC has a one year low of $59.35 and a one year high of $89.13. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

About National Grid Transco

National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.